The drop in drug price or spread in Greece has the highest drop of 27% in Europe

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Business Club July 24th, according to the EU's free trade rules, as a parallel trading system, allows drug wholesalers to buy cheap drugs from a low-price EU country market and then resell them to higher-priced EU countries. Obviously, Greece The price cuts will further reduce the export price of drugs and impact EU drug prices."
 
In response to the debt crisis, Greek drug prices have been reduced by an average of 21.5%. Due to parallel trade in the European Union, drug makers and drug retailers in other European countries are worried about a chain reaction.
 
The highest drop or up to 27%
 
In recent days, the cash-starved Greek government had to make a decision to cut drug prices by an average of 21.5%. This measure aimed at reducing Greece’s domestic spending may trigger further price cuts for medicines in other European countries and regions.
 
According to the new regulations of the Greek government on drug pricing, the prices of drugs with higher drug prices may be as high as 27%. Greek pharmaceutical companies and associations representing local multinational pharmaceutical manufacturers, drug prices will severely reduce the loss caused by a shortage of medicines and medical supplies, which is considering taking legal action in response to this initiative of the Greek government.
 
According to the EU's free trade rules, as a parallel trading system, drug wholesalers are allowed to purchase cheap drugs from a low-price EU country market and resell them to higher-priced EU countries. Obviously, this will lower the price of drug exports and impact EU drug prices.
 
In the face of the latest price cuts, pharmaceutical and pharmaceutical companies can choose to stop selling drugs in Greece. However, the Greek government requires that they must get government approval before taking this action.
 
Or form a vicious circle
 
The further decline in Greek drug prices will increase the pressure on many countries in Europe. Because many EU countries' drug prices are set against drug prices in other EU countries.
 
According to industry insiders, the price of drugs in Greece is already the lowest in Europe. Reducing prices again will put tremendous pressure on the profitability of pharmaceutical and retail pharmacies . Reducing drug prices in this way will inevitably make pharmaceutical products resold from Greece to other countries through parallel trade, making the demand in the Greek market unsatisfied. On the other hand, due to the price of Greek drugs, other EU member states may also consider lowering drug prices. This has created a vicious cycle of the market.
 
Multinationals have taken action
 
The spread of the downward trend in European drug prices has caused Wall Street’s concern and concern. Citibank analysts pointed out that at present, Britain, Spain, Italy, Germany and France all have large deficits that need to be dealt with and dealt with. “Spanish and Germany have already taken some actions, and there will be a trend of further price reductions in major pharmaceutical markets in Europe.”
 
It is reported that as early as April, Germany has announced plans to reduce prescription drug spending. Other countries, including Spain, have also adopted new restrictions. Outside the EU, Turkey is also trying its best to push for large-scale pharmaceutical factories to voluntarily lower prices.
 
According to analysis by industry insiders, all countries in Europe are currently facing budgetary problems, and governments in various countries have taken up a large part of the medical expenses. This means that there will be considerable risks this year and next year. Obama’s health care reform has already put downward pressure on prices of medicines , and the trend of price cuts in Europe has been aggravated.

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